Bonds Inch Higher As Fed
Decides to Leave Rates Alone

U.S. Treasury prices rose modestly Wednesday after the Federal Reserve Board's policy committee announced it would leave short-term interest rates unchanged -- as was largely expected by the market.

The price of the benchmark 30-year bond was up 3/32 point, or less than $1.25 for a bond with a face value of $1,000, at 88 8/32 in late trading. The yield, which moves in the opposite direction from the price, edged down to 6.93% from...